Prudential Vietnam honoured with 2 noble regconitions at CSI 2022 for its human-centric strategy

December 09, 2022 - 09:31
The Programme on Benchmarking and Announcing Sustainable Companies in Vietnam in 2022 (CSI 2022) honoured Prudential Vietnam Assurance Private Ltd. with two prestigious recognitions: Top 10 Sustainable Enterprises in trade and services sector and Top 5 Companies with Good Practices in Doing Responsible Business and Promoting Children Rights.
Prudential Vietnam was honoured as one of the Top 10 Sustainable Businesses in trade and services sector in Vietnam for the sixth time in a row.

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The accomplishment celebrated 23 years of sustainable growth for Prudential in the Vietnamese market.

Organised by the Việt Nam Chamber of Commerce and Industry through the Vietnam Business Council for Sustainable Development (VBCSD), the Ministry of Natural Resources and Environment, the Ministry of Labour, Invalids and Social Affairs, and the Vietnam General Confederation of Labour, the CSI 2022 benchmarked more than 1,500 companies and commended best business practices in responsible production and operation from economic, social and environment perspectives.

Prudential was honoured as one of the Top 10 Sustainable Businesses in Việt Nam in the trade and services sector after going through tough review and voting rounds by the jury.

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It is for the sixth consecutive year that Prudential is winning the award.  

To achieve this recognition, Prudential met the 2022 Corporate Sustainability Index (CSI) that has 130 stringent criteria.

This year, Prudential was also among the Top 5 Companies in terms of responsible business conduct and respecting human rights, a new award category added this year to honour businesses with the best practices in children and human rights policies that align with the United Nations’ Guiding Principles on Business and Human Rights.

Nguyễn Quang Vinh, VCCI’s vice executive chairman and VBCSD’s chairman, said the COVID-19 pandemic has demonstrated that companies that practised responsible business and promoted human rights can be resilient to crises and recover quickly.

Prudential’s high ranking in the corporate sustainability assessment also affirmed its exemplary position in the life insurance industry and recognised its contribution to the overall development of the Vietnamese economy.

Phương Tiến Minh, CEO of Prudential Vietnam, said: “As a substantial investor in Việt Nam’s domestic capital markets, Prudential is in a strategic position to manoeuvre green finance.

“We keep building a safe environment, creating positive values for society and providing solutions to help people live a healthier and wealthier life. We are committed to supporting the sustainable growth and prosperity of Vietnam.”

Prudential's efforts to bring sustainable and long-term value to the community, especially children, make it among the Top 5 Companies with Good Practices in Doing Responsible Business and Promoting Children Rights.

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Contributing to sustainable community and society development

Prudential has made efforts in its journey to contribute to the sustainable development of the community and society in Việt Nam, such as committed to accompanying the Government to achieve net zero, making health and wealth insurance products accessible to Vietnamese community, creating sustainable value for the community with practical actions, and creating the diversity and harmony culture in the workplace.

During the National Assembly chairman Vương Đình Huệ's official visit to the UK in June, Prudential plc executives had the opportunity to meet him and discuss some issues prioritised by the Vietnamese government.

Prudential affirmed its commitment to co-operate with Việt Nam in key initiatives such as green finance, insurance technology, and development of HCM City into an international financial hub.

Prudential has recently released a white paper to support emerging markets like Việt Nam to transform to a low-carbon economy, in order to achieve the target of zero greenhouse gas emissions by 2050.

Prudential Vietnam had introduced numerous online insurance solutions with affordable prices over the past three years, including PRU-Modern, PRU-Easy365, PRU-Guard 24/7, and PRU-Tropical, besides its core products, to protect consumers from uncertain health events and financial shocks. These products are easy to purchase through e-commerce sites such as Shopee and MoMo.

In terms of bringing sustainable values to the community, Prudential, in addition to donating more than VNĐ1.5 billion to support families affected by natural disasters, has implemented many activities to address social issues and contribute to sustainable development, including ‘Independent Seniority’, a project which seeks to raise public awareness on preparedness for senior independent living, and Cha-Ching, a financial education programme for children aged 7-12.

The diversity and harmony culture in the workplace is one of the key factors of the Corporate Sustainability Index. Prudential appreciated for adopting comprehensive strategy to create a diverse and harmonious working environment.

The company and the British Chamber of Commerce Vietnam has organised the first “Pride at Work” event to promote diversity and equality in the workplace.

To effectively embed diversity and inclusion into the business culture, Prudential has also deployed internal initiatives, including Pink Day.

Statistics show that 35 per cent of senior management at Prudential Asia is female. Prudential has been included in the Bloomberg Gender Equality Index for the second year in 2022.